Offshore Banking Institution in Dominica

Dominica – one of the classic offshore zones. Offshore firms registered there are widely used in international business. This is due to the complete absence of taxation, the absence of annual reporting demands, the simplicity and flexibility in administration, and the fact that these offshore companies are widely accepted and recognized by the international financial community. Such organizations can be engaged in any type of business not prohibited by law, with the exception of banking, trust, insurance and reinsurance activities, as well as managing third-party funds (for these types of activities, you must obtain a special license). In this article, we will take a closer look to operating of offshore banking institution in Dominica.

What Do You Need to Get Banking License?

The registration procedure in Dominica consists of several stages. Each of them requires a focused approach and a thorough knowledge of the country’s regulations. Not every executive has the right amount of time to study the regulations, so the support of a professional lawyer is required at all stages.

How to Save Dominica Banking License?

Why Dominica?

Benefits of Jurisdiction

Level of Privacy in Offshore Dominica

The registered agent’s office keeps the following documentation: Minutes of the first meeting and Minutes of appointment of the first Director of the company, registers of Directors/Shareholders, Share Certificates, Register of pledge of movable and immovable property (if any), Declaration of Beneficial Owner and copies of passports of directors/shareholders/beneficiaries. This information is not publicly available.

In addition, the Companies Law provides for a fine of USD 25,000 and imprisonment for two years for disclosing any information about an offshore company in Dominica. This provision of the law works for any person, including a financial inspector, a civil servant or an official liquidator of a company. Any information about the company can be provided only by decision of the local court, but this requires serious grounds and evidence of the criminal activities of the company itself.


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